{"id":605405,"date":"2019-04-05T19:55:10","date_gmt":"2019-04-05T19:55:10","guid":{"rendered":"
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The fate of a $10 billion mega-merger rests with Newmont Mining Corp. investors after\u00a0Goldcorp Inc.<\/span><\/span>\u00a0shareholders overwhelmingly approved what could be the\u00a0largest deal<\/span><\/span>\u00a0in gold mining history.<\/span><\/span><\/span><\/span><\/p>\n

Greater than 97 percent of Goldcorp shareholders voted for the merger at a special meeting in Vancouver, the miner said Thursday in a\u00a0statement<\/span><\/span>. <\/span><\/span><\/span><\/span><\/p>\n

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The deal would see Colorado-based Newmont pay 0.3280 of its shares for each Goldcorp share, plus two cents. <\/span><\/span><\/span><\/span><\/p>\n

The Goldcorp ballot required at least two-thirds of shareholders who voted to approve the deal.<\/span><\/span><\/span><\/span><\/p>\n

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The result was expected partly because two shareholder advisory groups, Glass, Lewis & Co. and Institutional Shareholder Services Inc., had recommended investors vote in favor of the deal.<\/span><\/span><\/span><\/span><\/p>\n

Newmont shareholders are scheduled to vote on the deal April 11. The promise of an 88-cent special\u00a0dividend<\/span><\/span>, if the deal proceeds, has already won over some of its largest investors. <\/span><\/span><\/span><\/span><\/p>\n

Newmont has said the merger with Goldcorp will create more than\u00a0$4.4 billion in value<\/span><\/span>\u00a0and give the company sustainable annual production of 6 million to 7 million ounces.<\/span><\/span><\/span><\/span><\/p>\n

Goldcorp<\/span><\/span>\u00a0pared losses and rose 0.3 percent to C$15.37 at 12:43 p.m. in Toronto, while Newmont increased 0.1 percent in New York.<\/span><\/span><\/span><\/span><\/p>\n

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If the transaction goes through, the combined company will control mines in the Americas, Australia and Ghana. The tie-up would dwarf Barrick Gold Corp.\u2019s recent $5.4 billion acquisition of Randgold Resources Ltd., and may exceed Barrick\u2019s 2006 purchase of Placer Dome Inc. as the gold-industry\u2019s biggest takeover, which had a final value of about $9.6 billion.<\/span><\/span><\/span><\/span><\/p>\n<\/div>\n